Osage University Partners in Bala Cynwyd, Pennsylvania says it completed fund raising for its first venture capital fund financing new enterprises that license technology developed in university labs. The company says the fund, called Osage University Partners 1, achieved its goal of raising $100 million.
Osage University Partners was founded in 2009 by venture professionals Robert Adelson and Marc Singer, and former president of the Association of University Technology Managers Louis Berneman. The fund specializes in financing start up companies formed to commercialize technology licensed from research done at its partner universities. The affiliated campuses then share in profits generated by the fund’s investments.
The company also announced the fund’s first university affiliates:
- California Institute of Technology
- Columbia University
- Duke University
- University of California at Berkeley
- University of Florida
- University of Michigan
- University of Pennsylvania
- Yale University
Read more: 2010 Venture Fund Raising Drops to Seven-Year Low
Hat tip: Innovation Daily
Photo: epicharmus/Flickr
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